| REGISTERED NUMBER: |
| Financial Statements For The Year Ended 31 May 2025 |
| for |
| Smith Packaging Products Limited |
| REGISTERED NUMBER: |
| Financial Statements For The Year Ended 31 May 2025 |
| for |
| Smith Packaging Products Limited |
| Smith Packaging Products Limited (Registered number: SC280922) |
| Contents of the Financial Statements |
| For The Year Ended 31 May 2025 |
| Page |
| Company Information | 1 |
| Abridged Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| Smith Packaging Products Limited |
| Company Information |
| For The Year Ended 31 May 2025 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Regent Court |
| 70 West Regent Street |
| Glasgow |
| G2 2QZ |
| Smith Packaging Products Limited (Registered number: SC280922) |
| Abridged Statement of Financial Position |
| 31 May 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| The director acknowledges his responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| Smith Packaging Products Limited (Registered number: SC280922) |
| Abridged Statement of Financial Position - continued |
| 31 May 2025 |
| The financial statements were approved by the director and authorised for issue on |
| Smith Packaging Products Limited (Registered number: SC280922) |
| Notes to the Financial Statements |
| For The Year Ended 31 May 2025 |
| 1. | STATUTORY INFORMATION |
| Smith Packaging Products Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised: |
| Sale of goods |
| Turnover from the sale of goods is recognised when all of the following conditions are satisfied: |
| the company has transferred the significant risks and rewards of ownership to the buyer; |
| the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; |
| the amount of turnover can be measured reliably; |
| it is probable that the company will receive the consideration due under the transaction; and |
| the costs incurred or to be incurred in respect of the transaction can be measured reliably. |
| Rendering of services |
| Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: |
| the amount of turnover can be measured reliably; |
| it is probable that the company will receive the consideration due under the contract; |
| the stage of completion of the contract at the end of the reporting period can be measured reliably; and |
| the costs incurred and the costs to complete the contract can be measured reliably. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Fixed plant and equipment | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Smith Packaging Products Limited (Registered number: SC280922) |
| Notes to the Financial Statements - continued |
| For The Year Ended 31 May 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Stocks |
| Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
| Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress. |
| Financial instruments |
| Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Totals |
| £ |
| COST |
| At 1 June 2024 |
| and 31 May 2025 |
| NET BOOK VALUE |
| At 31 May 2025 |
| At 31 May 2024 |
| Smith Packaging Products Limited (Registered number: SC280922) |
| Notes to the Financial Statements - continued |
| For The Year Ended 31 May 2025 |
| 5. | TANGIBLE FIXED ASSETS |
| Totals |
| £ |
| COST |
| At 1 June 2024 |
| Disposals | ( |
) |
| At 31 May 2025 |
| DEPRECIATION |
| At 1 June 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 May 2025 |
| NET BOOK VALUE |
| At 31 May 2025 |
| At 31 May 2024 |
| 6. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase |
| contracts |
| 2025 | 2024 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Non-cancellable |
| operating leases |
| 2025 | 2024 |
| £ | £ |
| Within one year |
| Between one and five years |